Stocks opened lower on Monday morning as investors braced for the possibility of a second wave of coronavirus cases even as economies around the world take their first cautious steps toward reopening.... [+]The Dow Jones Industrial Average fell 1.0%, 250 points, on Monday; the S&P 500 was also down 1.0% and the Nasdaq fell 0.7%.
Officials in South Korea issued a warning over the weekend that the country should brace for a second wave of the virus after it saw the biggest one-day increase in new infections after a month of improvement. Over the weekend, U.K. Prime Minister Boris Johnson a plan to ease lockdown restrictions for some professions without ending the lockdown completely, raising questions about worker safety and what many see as contradictions within his messaging. about the risk of new infections and the possibility of second and third waves of the virus.
On Friday, Moody’s Analytics chief economist Mark Zandi said that another spike in infections could have disastrous implications for the economy: “If we get a second wave, it will be a depression,” he
theothersarahh Is the stock market forming the expectation of W-shaped recovery?
theothersarahh Not the best news for a Monday.
theothersarahh But then they couldnt control themselves and had to buy the dip... and beyond.
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